Keeping a home as a short-term rental can be worth investigating when you move, but it adds a business and a set of property-specific obligations. Compare it with selling using conservative costs, written rules and your need for cash and flexibility. Potential gross bookings are not profit.
The original article highlighted reservations, guest communication, check-ins, cleaning, landscaping and maintenance. Frequent turnover can also require repairs and replacement of furniture, fixtures, linens and appliances. Plan who will respond to a lockout, leak, snow event or other problem while you are elsewhere.
Bankrate’s management discussion cited in the original post emphasized the time commitment and the need for reliable contractors. Compare doing the work yourself with a written management proposal covering fees, services, exclusions, cancellation, owner use and repair authorization. Hiring a manager does not remove all owner obligations.
Estimate vacancy and seasonality as well as booking income. Include platform and management fees, utilities, insurance, taxes, association charges, cleaning costs you bear, maintenance, replacements, licensing and financing. Model weaker occupancy and unexpected repairs, and keep adequate reserves. A current booking history is useful evidence but does not guarantee future demand.
The original article cited Nick Del Pego’s general warning that short-term rentals can be regulated businesses. Local requirements are more useful than that broad statement. Establish the property’s jurisdiction before applying another town’s rules:
Ask the responsible authority about permitted use, license availability and transfer, occupancy, inspection, advertising and tax requirements for the address. Separately review association documents, deed restrictions, lender conditions and insurance coverage. One approval does not establish compliance with every other requirement. A booking platform’s acceptance of a listing is not legal permission to operate it.
For selling, estimate proceeds after debt payoffs, selling expenses and other applicable obligations. For keeping the property, compare cash flow, reserves, ongoing debt, management effort and the effect on your next housing budget. Include a longer-term rental only if it fits your goals and applicable rules; it has different tenant and operating considerations.
Ask Anne-Britt Ostlund to help compare property and market information. Use the relevant licensing office, association, lender, insurer, attorney and tax adviser to resolve their respective questions before committing to a rental plan.